Hillgrove Resources (ASX: $HGO) ramps up copper production amidst favorable market conditions

Hillgrove Resources Limited (ASX: $HGO) has completed the second copper production campaign from the Kanmantoo underground copper mine, with production ramping up from 239 tonnes in February to 589 tonnes in March. The company is currently undergoing the next two-week milling campaign, with plans for copper sales in the upcoming week. The production capacity is set to increase further as additional work areas are established, allowing for concurrent mining from multiple stopes. This increase in production coincides with a rise in the copper price, which has surpassed US$4/lb for the first time since April 2023.

Executive Commentary on Copper Production Ramp Up

The ramp up of copper production at Kanmantoo as the copper price increases positions the Company well. Copper production is expected to increase further as we establish the second underground work area, enabling more copper to be delivered into the rising copper price environment.

Summary of Copper Production Ramp Up and Market Outlook

Hillgrove Resources Limited (ASX: $HGO) has successfully increased copper production at the Kanmantoo underground copper mine, with plans for further expansion as additional work areas are established. The surge in copper production aligns with a favorable trend in copper prices, providing the company with a strong position in the current market environment. The company anticipates a continued increase in copper production, leveraging the rising copper prices to enhance its position in the market.